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How is the gross profit on the sale recognized in the

During 2015, Edwards Co. sold inventory to its parent company, Forsyth Corp. Forsyth still owned all of the inventory at the end of 2015. Required:

What type of sale is this?

How is the gross profit on the sale recognized in the consolidated financial statements for 2015? Why?

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Accounting Basics: How is the gross profit on the sale recognized in the

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